UFP Technologies Q1 net income up 30% to $12.7M; EPS $1.64; sales $105M (+7.4%)

UFP TECHNOLOGIES INC

2024-Q1 EPS reported $1.64 revenue$105,009,000

Diluted EPS of $1.64 vs $1.27 in Q1 2023; net income $12.7M vs $9.7M.
Revenue $105.0M, up 7.4% YoY; medical market sales $90.0M (+7.4%); other markets $15.0M (+7.4%).
Operating income grew 24% to $15.9M; adjusted EBITDA $20.7M (+6.5%); gross margin 28.6% (down from 29.4%).
CEO cites growth in robotic surgery and infection prevention; Mexico sales up 47%; Dominican Republic expansion complete.
Balance sheet with ~$34M debt; active acquisition pipeline with multiple projects in due diligence.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

UFP TECHNOLOGIES INC reported first quarter ended March 31, 2024 results: revenue $105.0 million, net income $12.7 million, EPS $1.64 per diluted common share outstanding.

Period: first quarter ended March 31, 2024
Revenue: $105.0 million
Net income: $12.7 million
EPS: $1.64 per diluted common share outstanding
Result: reported results

Exact text from the filing

UFP Technologies, Inc. (Nasdaq: UFPT), a designer and custom manufacturer of comprehensive solutions primarily for the medical market, today reported net income of $12.7 million or $1.64 per diluted common share outstanding for its first quarter ended March 31, 2024, compared to net income of $9.7 million or $1.27 per diluted common share outstanding for the first quarter of 2023. Net Sales for the first quarter were $105.0 million compared to 2023 first quarter sales of $97.8 million.

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Source: SEC EDGAR

accession 0001171843-24-002424

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